Multiple Choice
In the college admissions example, which of the following describes a student who exhibits time inconsistent preferences?
A) Joe visited UState on a sunny day. Despite the great parties at UState, Joe knows he needs to study hard to keep is scholarship. Joe decides to attend UState.
B) Joe visited UState on a sunny day and saw how much fun he would have there. He decides to attend UState and soon realizes that UState is only fun in the summer and spring and during other times of the year there is nothing to do. He finds himself
Constantly traveling to UCity to visit friends because there is so much more to do in the city. He wishes he would have attended UCity.
C) Joe visited UCity on a cold day. He liked UCity because it was close to the museums and there were lots of restaurants, but he decides to attend UState.
D) Joe visited UCity on a sunny day. The weather in the city felt really hot and he wished he was on a big, grassy campus so that he could relax in the shade. But, Joe attends UCity anyways.
Correct Answer:

Verified
Correct Answer:
Verified
Q1: Hindsight bias, projection bias and time inconsistent
Q2: Consider the following inter-temporal choice problem,
Q3: Time inconsistent preferences are a bias.
Q4: Which of the following statements about the
Q5: Suppose you wanted to write down
Q7: Inter-temporal choice refers to<br>A) Scenarios in which
Q8: The hot state is today "today" in
Q9: Using the utility function given in 11.35
Q10: All of the following are types of
Q11: Consider Figure 11.1. Billy has a